UPDATE 3-Gas Natural could beat initial divestment plan

* Hopes to complete 3 bln euro divestment plan by end-2009

* Has three potential bidders for power plants

* Core profit up 50 pct to 2.88 bln euros vs fcast 2.76 bln

* Net profit misses fcasts due to costs related to debt pile

* Shares up 0.4 pct

(Recasts, adds details from news conference, updates shares, adds analyst comment)

By Jonathan Gleave

MADRID, Nov 4 (Reuters) - Spanish utility Gas Natural (GAS.MC: Quote, Profile, Research) is set to surpass its 3 billion euros ($4.4 billion) divestment target this year, the company said on Wednesday, as it battles to cut its 21.9 billion euro debt mountain.

Gas Natural SDG SA could reach a deal to sell or swap 2 gigawatts of power plants with a book value of about 900 million euros in the next few months, the company said after reporting nine-months results showing net profit missed forecasts.